General Electric (NYSE:GE) Price Target Raised to $200.00 at Bank of America

General Electric (NYSE:GE) had its price target raised by investment analysts at Bank of America from $180.00 to $200.00 in a report released on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the conglomerate’s stock. Bank of America‘s target price indicates a potential upside of 10.38% from the company’s current price.

Several other research analysts have also weighed in on GE. Wells Fargo & Company lifted their price objective on shares of General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a research note on Wednesday. Barclays increased their price target on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. StockNews.com cut General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Citigroup raised their target price on shares of General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, UBS Group raised their price objective on shares of General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $201.60.

General Electric Price Performance

Shares of GE stock traded up $4.54 during trading hours on Wednesday, hitting $181.20. 5,662,628 shares of the company’s stock were exchanged, compared to its average volume of 6,367,291. The stock’s 50-day moving average is $179.24 and its 200-day moving average is $168.05. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 0.85. General Electric has a 52 week low of $84.58 and a 52 week high of $194.80. The stock has a market cap of $198.34 billion, a price-to-earnings ratio of 59.43, a price-to-earnings-growth ratio of 1.86 and a beta of 1.18.

General Electric (NYSE:GE) last issued its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The firm had revenue of $9.84 billion for the quarter, compared to analyst estimates of $9.02 billion. During the same quarter in the prior year, the firm earned $0.82 EPS. The company’s revenue was up 5.8% on a year-over-year basis. As a group, research analysts forecast that General Electric will post 4.2 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of GE. Mackenzie Financial Corp increased its position in General Electric by 10.5% during the second quarter. Mackenzie Financial Corp now owns 603,988 shares of the conglomerate’s stock worth $96,016,000 after buying an additional 57,372 shares during the last quarter. Marietta Investment Partners LLC bought a new stake in General Electric in the 2nd quarter valued at $1,569,000. GAMMA Investing LLC raised its stake in General Electric by 25.4% in the 2nd quarter. GAMMA Investing LLC now owns 16,999 shares of the conglomerate’s stock valued at $2,702,000 after acquiring an additional 3,442 shares during the period. Senator Investment Group LP acquired a new stake in General Electric during the 2nd quarter valued at $34,973,000. Finally, Blair William & Co. IL boosted its position in General Electric by 4.4% during the second quarter. Blair William & Co. IL now owns 181,971 shares of the conglomerate’s stock worth $28,928,000 after purchasing an additional 7,670 shares during the period. 74.77% of the stock is currently owned by institutional investors and hedge funds.

General Electric Company Profile

General Electric Company, doing business as GE Aerospace, designs and produces commercial and defense aircraft engines, integrated engine components, electric power, and mechanical aircraft systems. It also offers aftermarket services to support its products. The company operates in the United States, Europe, China, Asia, the Americas, the Middle East, and Africa.